D.A. Davidson & CO. Reduces Holdings in Biogen Inc. (NASDAQ:BIIB)

D.A. Davidson & CO. lessened its stake in Biogen Inc. (NASDAQ:BIIB) by 19.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,617 shares of the biotechnology company’s stock after selling 386 shares during the quarter. D.A. Davidson & CO.’s holdings in Biogen were worth $247,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Grandfield & Dodd LLC lifted its stake in Biogen by 5.2% during the third quarter. Grandfield & Dodd LLC now owns 1,261 shares of the biotechnology company’s stock worth $244,000 after purchasing an additional 62 shares in the last quarter. Quintet Private Bank Europe S.A. boosted its holdings in Biogen by 9.7% in the third quarter. Quintet Private Bank Europe S.A. now owns 710 shares of the biotechnology company’s stock valued at $138,000 after purchasing an additional 63 shares in the last quarter. Quent Capital LLC grew its position in shares of Biogen by 31.9% in the 4th quarter. Quent Capital LLC now owns 298 shares of the biotechnology company’s stock valued at $46,000 after buying an additional 72 shares during the last quarter. TD Private Client Wealth LLC grew its holdings in shares of Biogen by 25.0% during the third quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company’s stock worth $75,000 after purchasing an additional 77 shares during the last quarter. Finally, Principal Securities Inc. increased its position in Biogen by 30.1% during the fourth quarter. Principal Securities Inc. now owns 337 shares of the biotechnology company’s stock worth $52,000 after buying an additional 78 shares during the period. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Wall Street Analysts Forecast Growth

BIIB has been the subject of several analyst reports. JPMorgan Chase & Co. cut their price target on shares of Biogen from $220.00 to $210.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Stifel Nicolaus cut shares of Biogen from a “buy” rating to a “hold” rating and set a $175.00 target price for the company. in a research report on Monday, December 16th. TD Cowen reduced their target price on shares of Biogen from $300.00 to $275.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Sanford C. Bernstein initiated coverage on Biogen in a research report on Tuesday, February 11th. They issued a “market perform” rating and a $160.00 price objective for the company. Finally, Morgan Stanley lowered their target price on shares of Biogen from $192.00 to $157.00 and set an “equal weight” rating for the company in a report on Thursday, February 13th. Seventeen investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Biogen presently has a consensus rating of “Hold” and an average target price of $213.33.

Biogen Stock Performance

NASDAQ:BIIB opened at $140.50 on Thursday. The firm has a market capitalization of $20.57 billion, a PE ratio of 12.56, a PEG ratio of 1.51 and a beta of -0.08. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27. Biogen Inc. has a 1 year low of $128.51 and a 1 year high of $238.00. The firm’s fifty day simple moving average is $144.70 and its 200 day simple moving average is $169.35.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, topping analysts’ consensus estimates of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. On average, sell-side analysts anticipate that Biogen Inc. will post 15.83 EPS for the current year.

Biogen Company Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases in the United States, Europe, Germany, Asia, and internationally. The company provides TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; ADUHELM to treat Alzheimer’s disease; FUMADERM to treat plaque psoriasis; BENEPALI, an etanercept biosimilar referencing ENBREL; IMRALDI, an adalimumab biosimilar referencing HUMIRA; FLIXABI, an infliximab biosimilar referencing REMICADE; and BYOOVIZ, a ranibizumab biosimilar referencing LUCENTIS.